Q: What are the typical steps toward owning a Seattle Drip store?
A: Detailed steps to becoming a Seattle Drip Franchisee are provided to qualified candidates. Basic steps include:
Prequalification via completed qualification report
UFOC (Uniform Franchise Offering Circular) Review, Q&A and Confidentiality Agreement
$10,000 Development Fee that applies toward the $25,000 Franchise Fee
Signed Franchise Agreement & payment of the Franchise Fee balance
Site Review and Approval
Site Construction
Management/Staff Training
Grand Opening!
Ongoing Support
Q: What are the Franchisee Qualification Criteria?
A: Below are just some of our Franchisee Qualification Criteria:
Financially qualified ($240,000 liquidity and $750,000 net worth) for a 3-unit development. Each additional unit requires $80,000 liquidity and $250,000 net worth per location.
Must have a minimum of 2 years QSR Management (GM & above) or retail/customer service management experience with P&L responsibility.
Cannot have controlling interest in another business that has more than 10% of its sales in coffee products.
Must be able to make a decision within 60-90 days after initial contact.
Geography matches: the candidate is willing to operate in our target markets.
Match with Seattle Drip Coffee Company's Mission/Values/Philosophy.
Background investigation proves acceptable.
U.S. Citizen/Greencard.
Must be committed to operate under a franchise license agreement.
Q. What are the steps in the Decision Making Process?
Initial phone conversation with Qualification Specialist.
Candidate completes and returns Franchise Application. Documentation must be enclosed with the Franchise Application to support the following:
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Candidate must have a minimum of $240,000 in liquid for working capital, in addition;
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Candidate must have $750,000 net worth.
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Please include statement (bank, stock, 401K) of the $240K liquid.
Qualification Specialist completes financial review of candidate's Franchise Application and conducts background investigation.
Uniform Franchise Offering Circular (UFOC) and Decision Making Checklist mailed to candidate (Acknowledgement of Receipt page must be returned before proceeding th the next step.
Franchise Recruiter contacts candidate to discuss UFOC and Decision-Making Checklist and schedules a face-to-face meeting.
Candidate meets face-to-face with Franchise Recruiter.
Candidate observes operating system in a Seattle Drip Coffee unit for 1/2 day.
Candidate completes and returns their Business Plan to Seattle Drip Franchisee Company, LLC.
The Approval Committee reviews the candidate's file for the appropriate market.
Candidate is invited to Orientation for the following:
Signing of the Development Agreement
Payment of the Development Fee
Discussion of pre-opening timeline
Setup of initial training
Q: How long does the entire process take?
A: From signing to grand opening, the average new store development period ranges from 6 to 8 months depending on the development option chosen. This time will depend on your decision-making process and the cooperation of various external partners. Our goal is to have you up and running as quickly as possible.
